What a stock chart!!!

New chart

Author

Brother Bill
July 19, 2024

This stock was shared with me this week by a long time reader and avid investor. It’s DHI. This price action is 101 text book grade A what we look for here at investingwithfaith.com This chart goes back 5 years and uses Weekly bars.

During that time DHI broke up north from a phenomenal Cup w Handle pattern. I’ve been sharing with investors everywhere for the past 3 years that CwH formations were occurring, breakouts were coming, and with the charts we now share here daily, time has confirmed that.

The green box in the upper right hand corner is what we are looking at today. That’s consolidation, and tight also which suggests less volatility. The breakout here places it at a new All Time High. Options on it are respectable as many Strikes carry a O.I. of over 500 contracts each. It’s up almost 15% on the week now, so some profit taking wouldn’t be unexpected.. Allowing it to settle in to that and watching for bounces off of the 20 EMA could offer new buying opportunities as this trend continues.

Invest wisely, live charitably and be well

Brother Bill

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